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🚨Scott Bessent on the economy: AI will allow us to "run it hot"

July 26, 2025 / 00:51

This episode discusses the recent positive financial trends for the Treasury, including a surplus in June 2023, and the potential for economic growth driven by AI.

The conversation highlights how June marked the first positive month for the Treasury since 2015, with increased revenues from tariffs and reduced spending. This surplus is seen as a significant achievement.

The speaker reflects on the economic conditions of the 1990s under Allan Greenspan, suggesting that a similar non-inflationary growth could be possible today due to advancements in AI.

There is optimism that such growth could lead to a rapid reduction in the deficit, indicating a hopeful outlook for future economic performance.

TLDR

June 2023 saw a Treasury surplus, with hopes for AI-driven economic growth to reduce the deficit.

Episode

0:51

00:00:00

We're full speed ahead. June was the first positive June for the Treasury since 2015. We actually had a surplus

00:00:10

and we did that in a good way. We took in more revenues, some from tariffs, and we brought down spending. When I think

00:00:17

about what we can do here, what I'm really excited about is the idea, you know, with AI that we can go back to the

00:00:26

paradigm when I was younger in the '9s. Allan Greenspan was able to run the economy very hot because it was the IT

00:00:35

boom and we had this very powerful non-inflationary growth and I think that it's highly likely we could have that

00:00:45

now and so that kind of growth would bring down the deficit very quickly. Right.

Episode Highlights

Positive June for the Treasury
June marked the first positive month for the Treasury since 2015, achieving a surplus.
“We actually had a surplus.”
@ 00m 05s
July 26, 2025
Excitement about AI and Growth
There's optimism about leveraging AI for economic growth reminiscent of the IT boom.
“What I'm really excited about is the idea with AI.”
@ 00m 20s
July 26, 2025

Episode Quotes

It's highly likely we could have non-inflationary growth now.
🚨Scott Bessent on the economy: AI will allow us to "run it hot"

Key Moments

Surplus Achieved00:05
AI Excitement00:20
Non-Inflationary Growth00:42